Long Beach, CA 90804,1407 Obispo Avenue
Listed by Kacey Taormina • Compass
Bought with Aspen Labrador • Compass
$1,350,000
$1,380,000
2.2%
Est.Price: ?

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5,272 SqFt

1407 Obispo Avenue Long Beach, CA 90804

Est. payment /mo
SOLD DATE : 12/12/2025

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Key Details

Sold Price $1,350,000

Property Type Commercial

Sub Type Other

Listing Status Sold

Purchase Type For Sale

Square Footage 5,272 sqft

Price per Sqft $256

MLS Listing ID CRNP25096923

Year Built 1929

Lot Size 7,429 Sqft

Property Sub-Type Other

Property Description

1407 Obispo Avenue is a 6-unit multifamily offering located in the heart of Long Beach's Eastside neighborhood. The property consists of a front fourplex with (4) 2-bedroom, 1-bath units, each featuring in-unit laundry, and a rear duplex with (2) 1-bedroom, 1-bath units positioned above four single-car garages. The garage structure presents a future opportunity for ADU conversion or added income (buyer to verify). With current rents approximately 27% below market and an attractive price per square foot of just $282, this asset offers immediate upside through strategic renovations and tenant turnover. The property is priced at a 12.06 GRM on existing income, with a projected 9.49 GRM at market rents, offering a compelling return profile in a supply-constrained submarket. Residents benefit from proximity to Pacific Coast Highway retail, Recreation Park, Long Beach City College, and the shops and dining along Retro Row. With rising housing costs and ongoing demand for well-located rental units, 1407 Obispo Avenue offers a rare opportunity to acquire a value-add asset with strong long-term upside.

Location

State CA

County Los Angeles

Interior

Laundry Gas Dryer Hookup, Other, No Hookups

Building

Lot Description Other

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